Eaton Vance Management Sells 18,031 Shares of Citigroup Inc. (C)

Eaton Vance Management reduced its holdings in Citigroup Inc. (NYSE:C) by 1.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,488,899 shares of the financial services provider’s stock after selling 18,031 shares during the period. Eaton Vance Management owned approximately 0.05% of Citigroup worth $99,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. CIBC World Markets Inc. grew its stake in shares of Citigroup by 8.9% in the 2nd quarter. CIBC World Markets Inc. now owns 430,106 shares of the financial services provider’s stock worth $28,765,000 after buying an additional 35,246 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Citigroup by 0.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 477,497 shares of the financial services provider’s stock worth $31,933,000 after buying an additional 3,222 shares in the last quarter. Tredje AP fonden grew its stake in shares of Citigroup by 13.1% in the 2nd quarter. Tredje AP fonden now owns 252,673 shares of the financial services provider’s stock worth $16,899,000 after buying an additional 29,169 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new position in shares of Citigroup in the 2nd quarter worth $584,000. Finally, AMG National Trust Bank grew its stake in shares of Citigroup by 3.6% in the 2nd quarter. AMG National Trust Bank now owns 77,621 shares of the financial services provider’s stock worth $5,191,000 after buying an additional 2,692 shares in the last quarter. 72.31% of the stock is owned by institutional investors and hedge funds.

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C has been the subject of a number of recent research reports. Bank of America Corporation reissued a “neutral” rating on shares of Citigroup in a research note on Wednesday, October 11th. Credit Suisse Group reissued an “outperform” rating and issued a $76.00 price objective (up from $70.00) on shares of Citigroup in a research note on Wednesday, July 26th. BidaskClub lowered shares of Citigroup from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Citigroup in a report on Monday, October 2nd. Finally, HSBC Holdings plc started coverage on shares of Citigroup in a report on Tuesday, July 11th. They issued a “hold” rating and a $71.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $74.77.

In other news, insider Jeffrey R. Walsh sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now owns 56,394 shares of the company’s stock, valued at $3,889,494.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Francisco Aristeguieta sold 40,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the sale, the chief executive officer now directly owns 77,570 shares in the company, valued at approximately $5,239,853.50. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. The business had revenue of $18.17 billion for the quarter, compared to analysts’ expectations of $17.87 billion. Citigroup had a net margin of 18.11% and a return on equity of 7.48%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. Citigroup’s dividend payout ratio is presently 24.66%.

Citigroup Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Institutional Ownership by Quarter for Citigroup (NYSE:C)

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